Daily Bullion Report of 17th Feb 2022

Posted by Tradelinecapital
09 Jul 2022 01:20:00 PM

Breaking News

Ukrainian Armed Forces Fire Mortar Shells, Grenades on 4 LPR Localities

LPR - Luhansk People's Republic, in Donbas region, a territory internationally recognized to be a part of Ukraine found in 2014.

On the other side NATO has been deploying military equipment at the borders with Russia.

Impact: In such situation Panic level in financial institution will remain same. Which cause to safe heaven Gold remain in buying position only from selected levels

Technical: As Gold taken the yesterday Low 1845.6$ post the news of Russian Military back to their base from Ukraine Gold move down from its high 1881.6$ & clear its overbought zone. Now Upper side cap of 1895.6$ ( for Intraday) & 1910.2$ (Holding) will open as it cross & sustain 1884$+.

Till the time Current range remain 1881$ to 1851$.

This will work till the time Russia denies planning any attacks. Or any further news does not arrive.

Its a War situation so better to avoid sell position or no trade without SL in sell point. Keep eyes open for more upcoming news on Latest updates.

Gold

Range: 50500 - 49300

Gold has a very strong resistance @ 50,500. It will try to back from this point till 49000.

As it cross 50,500 will open the gate of 52578, which is a very long way to see only in a condition of Russia himself announce that we are attacking on Ukraine & execute then only its possible otherwise not.

Momentum Call: Sell Gold 49890 with SL 50001 for target 49700

Our Preference: Sell Gold 50250 with back up sell 50400 for target 49500 SL 50501+

Alternative Scenario: Buy Gold 49300+ for target 49880 with SL 49150

Positional Trader Buy Gold above 1884$ or at 1855$ @ the same price trade in MCX.

Silver

Range:63900 - 62500

Our Preference: Buy Silver 62700+ for target 63700 with SL 62400

Alternative Scenario: Sell Silver 63835 for target 62800 with SL 64150+

Pricing